SInGaporE 2014 Salary & EmploymEnt ForEcaSt

SINGAPORE 2014 Salary & Employment Forecast

welcome Welcome 3 Market Overview 4 Accounting & Finance 11 Engineering & Manufacturing 23 Financial Services 31 Healthcare & Life Sciences 45 Human Resources 57 Legal 66 Procurement & Supply Chain 74 Property & Construction 84 Sales & Marketing 93 Technology 110 Contact Us 125 2

welcome Welcome to the 2014 Michael Page Salary & Employment Forecast report for Singapore. Consistent with previous years, this report provides senior executives and professionals with useful insights into salary forecasts and expectations, hiring intentions and recruitment challenges over the next 12 months. Our national annual salary survey, completed by over 300 employers this year, covers a range of issues and trends relevant to today s corporate sector and establishes the Salary & Employment Forecast as a highly reputable market leading report, based on in-depth national research. Whilst there are a number of current industry surveys that provide qualitative insight on hiring intentions and salary levels, the Michael Page Salary & Employment Forecast combines quantitative and qualitative research with our extensive involvement in the senior executive and professional employment market. Our clients come from all major industry sectors and range from market leading multinationals to local, small and medium sized enterprises. Consistent with our specialist approach to recruitment where we have dedicated teams of specialists servicing each discipline, market or industry sector, the report provides detailed salary guides for each discipline and industry. Salary tables divide job types by years of experience or size of organisation in order to obtain accurate and concise salary ranges. The results of our survey to employers are represented visually through the use of infographics. Featured is a range of employer insights on everything from workplace benefits and working hours to attraction and retention strategies. The market observations that accompany these are based on the extensive knowledge of our senior leadership team at Michael Page. It forms part of a suite of salary advice and information available to the market from Michael Page. These features can be found at www.michaelpage.com.sg. I wish to thank everyone who contributed to this year s Salary & Employment Forecast and trust you will find it helpful and informative. We welcome your feedback and encourage you to contact us for further information or market specific advice at enquiries@michaelpage.com.sg Best regards, Jerome Bouin Managing Director Singapore Our areas of specialisation are: Accounting & Finance Engineering & Manufacturing Financial Services Healthcare & Life Sciences Human Resources Legal Procurement & Supply Chain Property & Construction Sales & Marketing Technology 3

market OVERVIEW The Singapore recruitment market remains strong, but employers are indicating that the general hiring atmosphere is no longer as buoyant as it once was. There is still an array of opportunities for professionals across all industries, and those with local knowledge and experience are in extremely high demand. The main difference in the recruitment landscape between now and 12 months ago stems from employers beginning to exercise more caution. As Singapore leans towards global influences such as the United States, Europe and Australia, companies will now start to introduce tighter regulation into the recruitment process. Approvals are now often required from all levels of management, and companies are looking for a perfect fit in terms a prospective employee s skills and experience in line with the responsibilities of the role. With more focus on compliance, there is less room for compromise. In general, the market is currently quite averse to risk. There is strong preference for local talent, which is in part driven by the local regulatory bodies enforcing tighter conditions on working visas, and also by companies looking to ensure employees have the local knowledge needed to step into a new role with confidence. A significant percentage of employers (48% of those surveyed) have indicated that they are expecting skills shortages over the next 12 months which represents the prevailing caution on display. In a competitive hiring market, it is of the highest importance to attract and maintain the top talent. Some 53% of survey respondents expect to see staff turnover within the next 12 months, with most employees leaving their jobs to seek a higher salary. As companies compete to attract and hire from the fixed talent pool, this has resulted in role rotations across higher-end talent. When it comes to retention, companies are offering competitive packages encompassing both salary increases and worklife balance initiatives in addition to training and career progression opportunities (90% of survey respondents expect to award staff bonuses this year). An emerging trend is the growing popularity of graduate programs as a strategy to attract the strongest candidates early and to expose and familiarise them with the company s culture. In 2014 s employment market, businesses will need to find a balance between meeting compliance requirements and seizing the opportunity in order to attract the right professionals that will help them develop a stronger proposition in an already thriving market. As South East Asia continues to grow, Singapore is well positioned to benefit from the continued influx of businesses looking to establish themselves regionally. Main areas of growth include business services, healthcare and biomedical sciences, and high level industries. Engineering also looks set to continue as a key growth area throughout 2014. In addition, as organisations continue to set up headquarters locally, this produces sustained demand for workers in the corporate space. Professionals from a range of backgrounds are required to manage all departments, from human resources, to finance, sales and marketing and IT support. Niche roles in oil and gas as well as healthcare and life sciences are expected to attract offshore candidates as companies in these industries face a shortage of local talent that have the required experience to operate in top technical and upper managerial roles. This results in companies being forced to look outside the local market as they seek to sustain local operations. 4

Market OVERVIEW Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (15%) Slightly stronger (19%) Steady (54%) Slightly weaker (8%) Weaker (4%) 48% 38%? 14% Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months Yes, it will cause salaries to rise above the inflation rate (47%) Yes, salaries will increase but only at the rate of inflation (40%) No, the skills shortage will not impact salary levels (13%) 42% Need to develop more targeted attraction strategies 27% Source talent from overseas 16% It will be difficult to maintain headcount 13% None 2% Other Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Finance 5

Market OVERVIEW Salary and Remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 9% All my employees will receive the same percentage increase 74% 1% - 5% 6% - 10% 11% - 15% 70% 23% 5% All my employees will receive an increase, but it will vary according to performance 12% 16% - 20% 1% 21% - 30% 1% Only my best-performing employees will receive an increase 5% No one in my team will receive an increase Combination of factors likely to impact salary levels in the next 12 months* 56 % Global economic conditions 52 % 45 % 9 % 6 % 5 % Domestic economic conditions Competition with other companies Other (company performance, individual performance, inflation, etc.) Not sure Don t expect any factors to particularly impact salaries * More than one option could be selected. Finance 6

Market OVERVIEW Salary and Remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 60% 40% 90% 10% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Other Team performance 1 % 3 % 16 % 14 % Individual performance Company performance 1% - 5% 6% - 10% 20% 28% 11% - 15% 16% - 20% 25% 15% 21% - 30% 8% 31 40% 2% Above 40% 2% 66 % Combination of all Finance 7

Market OVERVIEW Attraction and retention Employer expectations for staff turnover in the next 12 months 53% 24% Key reasons employees are likely to leave $ 54% 23%? 23% 9% 6% 6% 1% 1% Higher salary Broaden experience/ opportunity to learn Promotion Achieve better work/life balance Other (company relocation, company culture, job security, etc.) Greater training & development Overseas opportunities Most popular tools for attraction and retention Recognition and rewards Structured career progression Training and mentoring partnerships Strong company culture Work-life balance initiatives Company branding International opportunities 29% 28% 13% 9% 9% 8% 4% * More than one option could be selected. Finance 8

Market OVERVIEW Attraction and retention Most popular options offered to support employees work-life balance* 18% 24% 46% Sabbatical leave 63% Flexible working arrangements Team building/offsite activities Increased maternity/paternity leave Other strategies companies implement to attract and retain staff Open communication Salary reviews Bonus allocation Promotions Rotational job opportunities Individual development plan for top talent Employee engagement initiatives Flexible working arrangements 18% Alternative leave options (e.g. volunteering) 12% Other (no overtime, leave, etc.) Combination of benefits offered to employees* 82 % 65 % 46 % 42 % 34 % 16 % 12 % 9 % 6 % 6 % 6 % 4 % 4 % Parking Stock options Company car Education loan Personal loan Housing loan Mobile phone Transport allowance Personal laptop Medical and dental benefits Other (travel allowance, meal allowance, clothing allowance, gym membership, additional leave, etc.) None Travel pass * More than one option could be selected. Finance 9

Market OVERVIEW Working hours Average weekly working hours Less than 37.5 hours 37.5-40 hours 40-45 hours 45-50 hours 50 hours or more 1 % 16 % 56 % 20 % 7 % Change in average weekly working hours over the last 12 months Significantly increase (15+%) (4%) Increased (0-15%) (21%) Stayed the same (71%) Reduced (0-15%) (3%) Significantly decrease (15+%) (1%) Main reason for increased working hours 60% 22% 12% 3% 3% Business growth Staff leaving and not replaced Fewer headcount Promotion Other (restructure, increased business activity, etc.) Finance 10

Salary & Employment Forecast SINGAPORE 2014 Accounting & Finance Accounting & Finance

Accounting & Finance Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (13%) Slightly stronger (21%) Steady (52%) Slightly weaker (10%) Weaker (4%) 50% 40%? 10% Market observations: Overall, hiring activity of finance and accounting professionals in Singapore has been steady and this sentiment is expected to remain for the next 12 months A relatively stable economy in Singapore and a slight improvement in European and American economies have helped to maintain hiring activity of finance and accounting professionals in Singapore. The growing economies of countries throughout South East Asia is also creating a healthy outlook for the recruitment of finance and accounting professionals. Demand for finance and accounting professionals is expected to be highest within the aviation, healthcare, oil and gas and professional service sector. While demand could be higher in these sectors, there is a stable demand across other industry sectors as Singapore continues to be seen as a regional hub of Asia. There is a growing trend for companies to invest in these positions while looking for candidates who can business partner effectively with the objective in mind to improve overall business performance and profitability. As the trend to outsource shared services centres to lower cost neighbouring countries like Malaysia, India, China and Philippines continues, an increased demand for finance and accounting professionals to support more regional and complex operational setups is still likely to come out of Singapore and be based in Singapore. Companies continue to expand or build their regional hubs in Singapore as not only is Singapore an ideal place from a location and tax efficient standpoint, it is also a location where talent is most likely to be based. Among finance and accounting professionals in Singapore, roles in highest demand include those specialising in tax, business analysis, financial control and internal audit. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Accounting & Finance 12

Accounting & Finance Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months Yes, it will cause salaries to rise above the inflation rate (61%) Yes, salaries will increase but only at the rate of inflation (35%) 52% 22% 17% 9% No, the skills shortage will not impact salary levels (4%) Need to develop more targeted attraction strategies Source talent from overseas It will be difficult to maintain headcount None Accounting & Finance 13

Accounting & Finance Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 10% All my employees will receive the same percentage increase 67% 1% - 5% 6% - 10% 11% - 15% 76% 19% 2% All my employees will receive an increase, but it will vary according to performance 18% 16% - 20% 1% 21% - 30% 2% Only my best-performing employees will receive an increase 5% No one in my team will receive an increase Combination of factors likely to impact salary levels in the next 12 months* Market observations: The average salaries of finance and accounting professionals in Singapore have increased in the last 12 months by 1% to 10%. 57 % 50 % 35 % 9 % 9 % 4 % Global economic conditions Domestic economic conditions Competition with other companies Other (company performance, individual performance, inflation, etc.) Don t expect any factors to particularly impact salaries Not sure Finance and accounting professionals who specialise in tax and business planning and analysis are more likely to be awarded above average increases as companies compete to attract and retain talent in what is a shallow talent pool. * More than one option could be selected. Accounting & Finance 14

Accounting & Finance Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 63% 37% 84% 16% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Individual performance 1% - 5% 26% 21 % 12 % Company performance 6% - 10% 26% 11% - 15% 24% 16% - 20% 17% 21% - 30% 7% 67 % Combination individual, team and company performance Accounting & Finance 15

Accounting & Finance Attraction & retention Employer expectations for staff turnover in the next 12 months 57% Key reasons employees are likely to leave $ 30% 13%? 54% 21% 18% 4% 3% Higher salary Broaden experience / opportunity to learn Promotion Achieve better work-life balance Other (reorganisation, etc.) Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* Recognition and rewards Structured career progression Work-life balance initiatives Strong company culture International opportunities Company branding 34% 34% 16% 10% 4% 2% 69% Flexible working arrangements 44% Team building/offsite activities 23% Increased maternity/paternity leave 17% Sabbatical leave 17% Alternative leave options (e.g. volunteering) Market observation: Most finance and accounting professionals in Singapore prefer to receive financial rewards such as transport allowances, mobile allowances, performance bonuses or any other form of cash allowances from their employer as opposed to non-financial rewards. 17% Other (no overtime, EAP program - counselling, etc.) * More than one option could be selected. Accounting & Finance 16

Accounting & Finance Attraction & retention Combination of benefits offered to employees* 71 % 60 % 52 % 45 % 29 % 19 % 15 % 10 % 8 % 6 % 4 % 4 % 2 % Parking Education loan Stock options Company car Housing loan Mobile phone Personal laptop Transport allowance Medical and dental benefits Other (travel allowance, petrol allowance, gym membership, etc.) Personal loan None Travel pass Working hours Average weekly working hours Less than 37.5 hours 37.5-40 hours 40-45 hours 45-50 hours 50 hours or more 1 % 28 % 33 % 31 % 7 % * More than one option could be selected. Accounting & Finance 17

Accounting & Finance Salary Tables GENERAL Role Salary SG$ 000 Accounts Payable Accountant 3 5 years 45-60 5-10 years 60-80 Financial Accountant 3 5 years 50-65 5-10 years 65-100 Cost Accountant 3 5 years 50-65 5-10 years 65-80 Credit Analyst 3 5 years 50-65 5-10 years 65-90 Group Accountant - Consolidation 3 5 years 50-70 5-10 years 70-110 Financial/Business Analyst 3 5 years 50-80 5-10 years 80-100 Accounts Payable Manager 3 5 years 70-90 5-10 years 90-120 Finance Manager (Small/Medium Organisation) 3 5 years 80-100 5-10 years 90-120 10-15 years 120+ Finance Manager (Shared Services Centre) 3 5 years 80-100 5-10 years 100-120 10-15 years 120+ Finance Manager (Large Organisation) 3 5 years 100-130 5-10 years 130-180 10-15 years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Accounting & Finance 18

Accounting & Finance GENERAL Role Salary SG$ 000 Credit Manager 3 5 years 80-100 5-10 years 100-130 10-15 years 130-150 Costing Manager 3 5 years 80-100 5-10 years 100-150 10-15 years 150+ Financial & Planning Analysis Manager 3 5 years 100-130 5-10 years 130-150 10-15 years 150-200 More than 15 years 200+ Financial Controller (Small/Medium Organisation) 3 5 years 130-150 5-10 years 150-180 10-15 years 180+ Financial Controller (Large Organisation) 3 5 years 160-200 5-10 years 200-250 10-15 years 250+ Credit Director 3 5 years 130-150 5-10 years 150-180 10-15 years 180-220 More than 15 years 220+ Finance Director (Shared Services Centre) 3 5 years 200-220 5-10 years 220-250 10-15 years 250+ More than 15 years N/A CFO/Finance Director (Large Organisation) 3 5 years 220-250 5-10 years 250-300 10-15 years 300-350 More than 15 years 350+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Accounting & Finance 19

Accounting & Finance SPECIALIST Role Salary SG$ 000 Pricing Analyst 3 5 years 60-80 5-10 years 80-100 Treasury Analyst 3 5 years 60-80 5-10 years 80-100 Tax Analyst 3 5 years 60-80 5-10 years 80-110 Internal Auditor 3 5 years 65-90 5-10 years 90-130 Pricing Manager 3 5 years 100-120 5-10 years 120-150 10-15 years 150+ Revenue Recognition 3 5 years 80-120 5-10 years 120-180 10-15 years 180-250 Corporate Finance Manager 3 5 years 90-120 5-10 years 120-160 10-15 years 160+ Treasury Manager 3 5 years 100-120 5-10 years 120-180 10-15 years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Accounting & Finance 20

Accounting & Finance SPECIALIST Role Salary SG$ 000 Internal Audit Manager 3 5 years 100-130 5-10 years 130-150 10-15 years 150-200 Tax Manager 3 5 years 130-160 5-10 years 160-200 10-15 years 200+ Corporate Finance Director 3 5 years 200-220 5-10 years 220-250 10-15 years 250-300 More than 15 years 300+ Treasury Director 3 5 years 200-220 5-10 years 220-250 10-15 years 250-300 More than 15 years 300+ Internal Audit Director 3 5 years 200-220 5-10 years 220-250 10-15 years 250-300 More than 15 years 300+ Tax Director 3 5 years 200-220 5-10 years 220-250 10-15 years 250-300 More than 15 years 300+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Accounting & Finance 21

Accounting & Finance PROFESSIONAL SERVICES & PUBLIC ACCOUNTING Role Salary SG$ 000 External Audit 3 5 years 50-70 5-10 years 70-120 10-15 years 120+ Tax 3 5 years 55-75 5-10 years 75-130 10-15 years 130+ Management consultancy 3 5 years 90-140 5-10 years 140-180 10-15 years 180+ Corporate Finance 3 5 years 90-140 5-10 years 140-180 10-15 years 180+ Risk & Compliance 3 5 years 90-140 5-10 years 140-180 10-15 years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Accounting & Finance 22

Salary & Employment Forecast SINGAPORE 2014 ENGINEERING & MANUFACTURING Engineering & Manufacturing

ENGINEERING & MANUFACTURING Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (11%) Slightly stronger (16%) Steady (55%) Slightly weaker (16%) 40% 34%? 26% Weaker (2%) Market observations: Current recruitment activity for engineering and manufacturing professionals in Singapore is steady and is expected to remain so over the coming 12 months. The majority of hiring activity is in the areas of oil and gas, chemical, petrochemical, semiconductor and aerospace and is mostly for replacement roles. Some companies have created new roles, particularly in instances where they transfer their manufacturing operations from overseas to Singapore. The areas of engineering, product support and quality control have experienced the strongest hiring activity, as Singapore moves towards a higher technology engineering centre and manufacturing site for high-end products. Multinationals in Singapore are currently transferring new technology and manufacturing to existing sites, creating a demand for highly skilled Design Engineers, Product Support and Process Improvement Specialists to ensure a smooth transition. High-tech industries such as the semiconductor industry will experience increased demand for Electrical Design Engineers for locally established regional design centres. Lower-end manufacturing sites are moving out of Singapore due to the higher costs of manufacturing compared to other regions such as Vietnam, Indonesia, Thailand and China. This is driving a shift towards higher-end manufacturing products in Singapore such as aerospace components, high-end chemicals and oil and gas equipment. Engineering and manufacturing professionals in Singapore with skills in Six Sigma Black Belt and Lean Expert will be in high demand as companies look to increase cost savings and efficiency through the implementation of lean methodologies, as well as Six Sigma. Mechanical and Electrical Engineers, Quality Managers, as well as Application Support and Field Service roles will be the most demanded job types. As companies set up their South East Asia or Asia Pacific regional office in Singapore, there is an increased requirement for regional field service or quality roles based in Singapore. Manufacturing sites in Singapore are also upgrading their machinery and facilities, generating a demand for experienced mechanical engineers. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Engineering & Manufacturing 24

ENGINEERING & MANUFACTURING Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months 47% Yes, it will cause salaries to rise above the inflation rate (60%) Yes, salaries will increase but only at the rate of inflation (33%) 20% 20% 13% No, the skills shortage will not impact salary levels (7%) Source talent from overseas Need to develop more targeted attraction strategies None It will be difficult to maintain headcount Engineering & Manufacturing 25

ENGINEERING & MANUFACTURING Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 7% All my employees will receive the same percentage increase 1% - 5% 6% - 10% 85% 15% 83% All my employees will receive an increase, but it will vary according to performance 8% Only my best-performing employees will receive an increase 2% No one in my team will receive an increase Market observations: Average salaries for engineering and manufacturing professionals in Singapore increased over the last 12 months by between 1% and 10%. Operational Directors, Plant Managers and Engineering Specialists will be awarded above average salary increases due to the limited talent pool available and as employers look to them to drive improvements, processes or build new teams and disciplines. Combination of factors likely to impact salary levels in the next 12 months* 72 % Global economic conditions 54 % 26 % 8 % 5 % Domestic economic conditions Competition with other companies Other (company performance, financial status of company, type and number of projects etc.) Not sure * More than one option could be selected. Engineering & Manufacturing 26

ENGINEERING & MANUFACTURING Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 53% 47% 90% 10% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Individual performance 1% - 5% 22% 8 % Company performance 6% - 10% 11% - 15% 31% 6% 22 % 16% - 20% 19% 21% - 30% 15% 31% - 40% 1% Above 40% 6% 70 % Combination individual, team and company performance Engineering & Manufacturing 27

ENGINEERING & MANUFACTURING Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 51% 21% $ 28%? 65% 20% 10% 5% Higher salary Broaden experience / opportunity to learn Other (job security, etc.) Promotion Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* Recognition and rewards Structured career progression Strong company culture Training and mentoring partnerships Work-life balance initiatives Company branding International opportunities 43% 30% 10% 5% 5% 5% 2% 68% Flexible working arrangements 45% Team building/offsite activities 21% Increased maternity/paternity leave 16% 13% Alternative leave options (e.g. volunteering) Sabbatical leave Market observations: Most engineering and manufacturing professionals in Singapore prefer to receive a mix of financial and non-financial rewards from their employer. 8% Other (no overtime, leave, etc.) * More than one option could be selected. Engineering & Manufacturing 28

ENGINEERING & MANUFACTURING Attraction & retention Combination of benefits offered to employees* 76 % 53 % 50 % 37 % 37 % 24 % 16 % 16 % 13 % 13 % 11 % 8 % 5 % Parking Mobile phone Personal laptop Transport allowance Stock options Company car Housing loan Personal loan Medical and dental benefits Other (education sponsor, renovation loans, computer loans, work live leave, company shares, etc.) Education loan Travel pass None Working hours Average weekly working hours Less than 37.5 hours 37.5-40 hours 40-45 hours 45-50 hours 50 hours or more 5 % 10 % 77 % 5 % 3 % * More than one option could be selected. Engineering & Manufacturing 29

ENGINEERING & MANUFACTURING Salary Tables Role Experience Salary SG$ 000 R&D ENGINEERING/R&D Design Engineer 2 5 years 45-75 Application Engineer 2 5 years 45-90 Senior Design Engineer 5 10 years 70-100 Senior Application Engineer 5 10 years 80-110 Engineering Manager 8+ years 100-150 Engineering Director 15+ years 150-250 PRODUCTION/MANUFACTURING ENGINEERING Production Engineer 2 5 years 50-80 Production Engineering Manager 8+ years 100-140 QUALITY CONTROL/ASSURANCE Quality Engineer 2 5 years 40-75 Senior Quality Engineer 5 10 years 70-100 Quality Manager 10+ years 80-150 Quality Director 15+ years 150-250 SALES ENGINEERING Sales Engineer 2 5 years 40-80 Senior Sales Engineer 5 8 years 70-100 Sales Engineering Manager 8+ years 100-150 PROJECT/PROGRAM MANAGEMENT Project Manager 2 5 years 70-100 Senior Project Manager 5 10 years 100-150 Project/Program Director 10+ years 150-220 Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Engineering & Manufacturing 30

Salary & Employment Forecast SINGAPORE 2014 FINANCial services Financial Services

Financial Services Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (14%) Slightly stronger (21%) Steady (45%) Slightly weaker (7%) Weaker (13%) 31% 52%? 17% Market observations: The current strength of hiring activity for financial services professionals in Singapore is steady as banks have faced serious cost pressures and made redundancies across the board and at all levels. With cost and regulatory pressures still in place, the majority of banking employers have indicated they will not expand teams in 2014. However, hiring activity is expected to strengthen with any pick-up in economic activity, due to banking teams being fairly lightly staffed and the need to strengthen teams to contend with increased work flow. Hiring activity for financial services professionals in the areas of compliance and risk is strongest as increased global regulatory pressures have meant banks have had to increase the size of their governance teams. As banks and financial institutions remain on cost cutting measures, hiring activity will be largely restricted to roles in highest demand such as Analysts, Associates and AVPs, with few openings for senior roles. Financial services professionals in Singapore with skills in financial modelling are in demand as private equity firms and corporate finance teams require this as a primary skill set. Increased regulatory pressures across private banking and corporate investment banking is creating demand for financial services professionals familiar with anti money laundering and know your customer (KYC) practices. As Japanese banks move their operations to Singapore, financial services professionals with language proficiency in Japanese will be sought-after by these companies. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Financial Services 32

Financial Services Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months 45% Yes, it will cause salaries to rise above the inflation rate (44%) Yes, salaries will increase but only at the rate of inflation (44%) 22% 22% 11% No, the skills shortage will not impact salary levels (12%) Need to develop more targeted attraction strategies Source talent from overseas None Other (Will not hire unless it is the right candidate) Financial Services 33

Financial Services Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 65% All my employees will receive an increase, but it will vary according to performance 26% 1% - 5% 6% - 10% 11% - 15% 71% 23% 6% Only my best performing employees will receive an increase 9% No one in my team will receive an increase Combination of factors likely to impact salary levels in the next 12 months* 77 % Global economic conditions 58 % 48 % 9 % 9 % 3 % Domestic economic conditions Competition with other companies Other (company performance, growth potential, increase in experience, etc.) Not sure Don t expect any factors to particularly impact salaries Market observations: Average salaries for financial services professionals in Singapore over the last 12 months have remained steady. In 2014, financial services professionals in compliance are likely to be awarded above average increases as companies look to attract and retain talent with these skills as there is a limited supply pool. * More than one option could be selected. Financial Services 34

Financial Services Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 55% 45% 94% 6% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Other 1% - 5% 30% 3 % Individual performance 6% - 10% 11% - 15% 10% 20% Team performance 6 % 16% 10 % Company performance 16% - 20% 10% 21% - 30% 17% 31% - 40% 10% Above 40% 3% 65 % Combination of all Financial Services 35

Financial Services Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 47% $ 31% 22%? 47% 40% 7% 6% Higher salary Broaden experience / opportunity to learn Promotion Other (combination of the reasons listed) Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* 53% Recognition and rewards Structured career progression Strong company culture Company branding Training and mentoring partnerships Work-life balance initiatives 17% 10% 10% 7% 3% 24% 24% 21% 72% Flexible working arrangements Team building/offsite activities Alternative leave options (e.g. volunteering) Sabbatical leave 17% Increased maternity/paternity leave Market observations: Financial services employers are looking at a range of attraction and retention strategies including staggered and flexible shifts in back office roles and offering global mobility to existing employees. The majority of financial services professionals in Singapore would prefer to receive financial rewards from their employer. 13% Other (working from home) * More than one option could be selected. Financial Services 36

Financial Services Attraction & retention Combination of benefits offered to employees* 90 % 72 % 41 % 38 % 34 % 14 % 10 % 10 % 7 % 7 % 3 % 3 % Personal laptop Transport allowance Parking Mobile phone Other (optical benefits, travel insurance, meal allowance, flexi benefits and additional leave) Housing loan Stock options Personal loan Education loan Company car None Medical and dental benefits Working hours Average weekly working hours Less than 37.5 hours 37.5-40 hours 40-45 hours 45-50 hours 50 hours or more 1 % 18 % 44 % 25 % 12 % * More than one option could be selected. Financial Services 37

Financial Services Salary Tables FINANCE Role Salary SG$ 000 CENTRAL FINANCE Management Reporting/Business Finance Associate 60-95 Associate Vice President 85-150 Vice President 150-220 Director/MD 270+ Costing Controls/Analytics Associate 60-95 Associate Vice President 85-150 Vice President 150-220 Director/MD 270+ Financial Reporting Associate 60-95 Associate Vice President 90-150 Vice President 150-220 Director/MD 270+ Tax Accountant Associate 80-100 Associate Vice President 100-170 Vice President 170-250 Director/MD 300+ VALUATIONS Quantitative Associate 60-95 Associate Vice President 85-130 Vice President 180-250 Director/MD 260+ Price Testing Associate 60-95 Associate Vice President 85-130 Vice President 180-250 Director/MD 260+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Financial Services 38

Financial Services FINANCE Role Salary SG$ 000 FINANCE PROJECTS Business Analyst Associate 60-95 Associate Vice President 90-160 Vice President 160-240 Director/MD 260+ PRODUCT CONTROL Cash Associate 60-95 Associate Vice President 95-130 Vice President 160-250 Director/MD 260+ Equities & Finance Associate 60-95 Associate Vice President 95-130 Vice President 160-250 Director/MD 260+ Commodities & Derivatives Associate 60-95 Associate Vice President 95-130 Vice President 160-250 Director/MD 260+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Financial Services 39

Financial Services AUDIT, COMPLIANCE & RISK Role Salary SG$ 000 AUDIT Internal Audit Associate 60-90 Associate Vice President 90-145 Vice President 175-240 Director/MD 250+ IT Audit Associate 60-90 Associate Vice President 90-145 Vice President 175-240 Director/MD 250+ COMPLIANCE AML (Audit Money Laundering) Associate 60-90 Associate Vice President 90-160 Vice President 160-250 Director/MD 250+ MAS Compliance Associate 60-90 Associate Vice President 90-160 Vice President 160-250 Director/MD 250+ TTM (Transaction Trend Monitoring) Associate 60-90 Associate Vice President 90-160 Vice President 160-250 Director/MD 250+ Front Office Advisory Associate 60-120 Associate Vice President 120-190 Vice President 200-280 Director/MD 300+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Financial Services 40

Financial Services AUDIT, COMPLIANCE & RISK Role Salary SG$ 000 RISK Market Risk Associate 60-90 Associate Vice President 100-120 Vice President 120-250 Director/MD 250+ Credit Risk Associate 60-90 Associate Vice President 100-120 Vice President 120-250 Director/MD 250+ Operational Risk Associate 60-90 Associate Vice President 85-130 Vice President 170-240 Director/MD 250+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Financial Services 41

Financial Services OPERATIONS Role Salary SG$ 000 OPERATIONS Project Management Associate 60-85 Associate Vice President 85-140 Vice President 140-230 Director/MD 220+ MIDDLE OFFICE Client Servicing Associate 50-80 Associate Vice President 80-120 Vice President 120-200 Director/MD 200+ BACK OFFICE Settlement Associate 45-65 Associate Vice President 65-120 Vice President 130-200 Director/MD 200+ Corporate Actions Associate 45-65 Associate Vice President 65-120 Vice President 130-200 Director/MD 200+ Reconciliation Associate 45-65 Associate Vice President 65-120 Vice President 130-200 Director/MD 200+ Collateral Management Associate 45-75 Associate Vice President 75-120 Vice President 130-180 Director/MD 190+ Fund Administration Associate 45-75 Associate Vice President 75-120 Vice President 130-180 Director/MD 190+ Documentation Associate 45-80 Associate Vice President 80-120 Vice President 130-200 Director/MD 200+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Financial Services 42

Financial Services FRONT OFFICE Role Salary SG$ 000 INVESTMENT BANKING Debt Capital Markets Associate 100-150 Associate Vice President 160-200 Vice President 200-280 Director/MD 280+ Equity Capital Markets Associate 100-150 Associate Vice President 160-200 Vice President 200-280 Director/MD 280+ Private Equity Associate 80-130 Associate Vice President 140-200 Vice President 200-250 Director/MD 250+ Investment Banking Associate 100-150 Associate Vice President 160-200 Vice President 200-280 Director/MD 280+ CORPORATE /INSTITUTIONAL BANKING Credit Analysis Corporate Bankers Associate 30-80 Associate Vice President 80-110 Vice President 110-140 Director/MD 140+ Transaction Banking Sales Associate 40-80 Associate Vice President 80-120 Vice President 120-160 Director/MD 160+ Transaction Banking Product Management Associate 40-60 Associate Vice President 60-100 Vice President 100-150 Director/MD 150+ Corporate Banking Relationship Manager Associate 40-90 Associate Vice President 90-130 Vice President 130-180 Director/MD 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Financial Services 43

Financial Services FRONT OFFICE Role Salary SG$ 000 FUND MANAGEMENT Institutional Sales & Marketing Associate 60-80 Associate Vice President 80-110 Vice President 120-170 Director/MD 170+ Portfolio Managers Associate 80 100 Associate Vice President 100 150 Vice President 150 220 Director/MD 220+ Research Associate 80 100 Associate Vice President 100 150 Vice President 150 220 Director/MD 220+ Financial Services 44

Salary & Employment Forecast SINGAPORE 2014 Healthcare & Life Sciences Healthcare & Life Sciences

Healthcare & Life Sciences Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (14%) Slightly stronger (14%) Steady (58%) 72% Slightly weaker (14%)? 14% 14% Market observations: Overall hiring activity for healthcare and life sciences professionals in Singapore is currently steady and is expected to remain at this level over the next 12 months. Technical markets are maturing and there is more emphasis on investing in local talent. Companies are also setting up new plants in Singapore and this is expected to create a healthy demand for new roles in the sector in addition to the usual replacement roles caused by natural attrition and turnover. Research & Development (R&D), Quality Assurance and Engineering and Operations are expected to be the strongest areas of hiring activity for healthcare and life sciences professionals, as Singapore differentiates itself as a high quality and high value market with highly skilled employees. Within the healthcare and life sciences sector, professionals with a specialisation in quality assurance or regulatory affairs will be in demand as new plants and corporate offices set up operations in Singapore. An increase in collaborations between government and industry players is leading to the establishment and expansion of plants in Singapore as organisations ramp up their operations, and is creating demand for healthcare and life sciences professionals. Healthcare and life sciences professionals specialising in ISO13485 standards for medical devices, as well as those with expertise in Lean and Six Sigma are in demand. Companies are aware that these specialisations are hard to come by due to the need for upfront investment from employers to train and develop healthcare professionals with these skills. R&D across the medical device and fast-moving consumer goods (FMCG) sectors is picking up in Singapore with new start-ups receiving strong support from the government. This is leading to a demand for skilled R&D professionals, in particular scientific experts in the areas of biology and chemistry. Project and mechanical engineers are also expected to be in demand as engineering and operations remain a core component of manufacturing companies and plants. This will create a constant demand for talented healthcare and life sciences professionals in Singapore. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Healthcare & Life Sciences 46

Healthcare & Life Sciences Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months Yes, it will cause salaries to rise above the inflation rate (60%) Yes, salaries will increase but only at the rate of inflation (40%) 60% 20% 20% Need to develop more targeted attraction strategies It will be difficult to maintain headcount Other Healthcare & Life Sciences 47

Healthcare & Life Sciences Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months All my employees will receive an increase, but it will vary according to performance 12% 88% 1% - 5% 6% - 10% 11% - 15% 75% 13% 1% Only my best performing employees will receive an increase 16% - 20% 11% Combination of factors likely to impact salary levels in the next 12 months* Market observations: The average salaries of healthcare and life sciences professionals in Singapore increased over the last 12 months by 1% to 10%. 88 % 88 % 63 % 13 % Not sure Competition with other companies Domestic economic conditions Global economic conditions Healthcare and life sciences professionals specialising in regulatory affairs, engineering and operations, as well as scientific experts, are expected to be awarded above average salary increases in the coming year. Companies will also award above average salary increase to secure professionals with the ability to drive improvements, processes or build a new team and discipline, given the limited talent pool and competitive market. * More than one option could be selected. Healthcare & Life Sciences 48

Healthcare & Life Sciences Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 50% 50% 86% 14% Basis for bonuses over the next 12 months Average percentage bonus of gross salary 17 % Individual performance 33 % Company performance 11% - 15% 16% - 20% 60% 40% 50 % Combination of individual, team and company performance Healthcare & Life Sciences 49

Healthcare & Life Sciences Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 72% $ 14% 14%? 40% 40% 20% Higher salary Broaden experience / opportunity to learn Greater training & development Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* 43% Company branding Structured career progression Work-life balance initiatives 43% 14% 71% 71% Flexible working arrangements Increased maternity/paternity leave 24% Team building/offsite activities Market observations: International opportunities Some companies have adopted new attraction and retention strategies, such as retention bonuses spread over several years, as well as a lump sum payment after a fixed number of years of employee service. Most healthcare and life sciences professionals in Singapore prefer to receive a mix of financial and non-financial rewards from their employer. 14% 14% Sabbatical leave Alternative leave options (e.g. volunteering) * More than one option could be selected. Healthcare & Life Sciences 50

Healthcare & Life Sciences Attraction & retention Combination of benefits offered to employees* 86 % 71 % 57 % 57 % 43 % 14 % 14 % Medical and dental benefits Mobile phone Parking Transport allowance Personal laptop Education loan Stock options Working hours Average weekly working hours Less than 37.5 hours 37.5-40 hours 40-45 hours 45-50 hours 50 hours or more 1 % 1 % 57 % 29 % 12 % * More than one option could be selected. Healthcare & Life Sciences 51

Healthcare & Life Sciences Salary Tables CLINICAL RESEARCH Role Drug Safety/Pharmacovigilence Salary SG$ 000 3 to 5 years 45 55 5 to 10 years 55 80 10 to 15 years 90 150 More than 15 years N/A Data Management 3 to 5 years 45 70 5 to 10 years N/A 10 to 15 years N/A More than 15 years 150+ Clinical Operations 3 to 5 years 50 70 5 to 10 years 70 90 10 to 15 years 100 120 More than 15 years N/A BioStatistician 3 to 5 years 50 80 5 to 10 years 80 100 10 to 15 years N/A More than 15 years N/A SAS Programmer 3 to 5 years 50 80 5 to 10 years 80 100 10 to 15 years N/A More than 15 years N/A Medical Affairs 3 to 5 years 110 130 5 to 10 years 120 180 10 to 15 years 180 250 More than 15 years 300+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Healthcare & Life Sciences 52

Healthcare & Life Sciences RESEARCH & DEVELOPMENT Role Scientists (non PhDs) Salary SG$ 000 3 to 5 years 45 70 5 to 10 years 80 100 10 to 15 years 120 140 More than 15 years N/A Scientists (PhDs) 3 to 5 years 60 80 5 to 10 years 90 120 10 to 15 years 120 180 More than 15 years 200+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Healthcare & Life Sciences 53

Healthcare & Life Sciences OPERATIONS Role Manufacturing Salary SG$ 000 3 to 5 years 50 70 5 to 10 years 70 90 10 to 15 years 100 160 More than 15 years 200+ Process Engineering 3 to 5 years 60 80 5 to 10 years 90 120 10 to 15 years 120 150 More than 15 years 180+ Mechanical Engineering 3 to 5 years 60 80 5 to 10 years 90 120 10 to 15 years 120 150 More than 15 years 180+ Electrical Engineering 3 to 5 years 60 80 5 to 10 years 90 120 10 to 15 years 120 150 More than 15 years 180+ Controls/Automation 3 to 5 years 60 80 5 to 10 years 90 120 10 to 15 years 120 150 More than 15 years 180+ EHS 3 to 5 years 60 80 5 to 10 years 90 120 10 to 15 years 120 150 More than 15 years 180+ Validation 3 to 5 years 60 80 5 to 10 years 90 120 10 to 15 years 120 150 More than 15 years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Healthcare & Life Sciences 54

Healthcare & Life Sciences QUALITY & COMPLIANCE OPERATIONS Role Quality Control Salary SG$ 000 3 to 5 years 45 70 5 to 10 years 80 120 10 to 15 years 120 140 More than 15 years N/A Microbiology 3 to 5 years 45 70 5 to 10 years 80 120 10 to 15 years 120 140 More than 15 years N/A Regulatory Affairs 3 to 5 years 60 80 5 to 10 years 90 120 10 to 15 years 120 150 More than 15 years 200+ Quality Assurance (GMP) 3 to 5 years 60 80 5 to 10 years 90 120 10 to 15 years 120 150 More than 15 years 200+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Healthcare & Life Sciences 55

Healthcare & Life Sciences COMMERCIAL Role Salary SG$ 000 Sales/Medical Representative 3 to 5 years 50 80 5 to 10 years 90 120 10 to 15 years N/A More than 15 years N/A Product Manager 3 to 5 years 60 80 5 to 10 years 80 110 10 to 15 years 100 130 More than 15 years N/A Senior/Group Product Manager 3 to 5 years 80 100 5 to 10 years 100 120 10 to 15 years 110 150 More than 15 years N/A Sales Manager 3 to 5 years 80 100 5 to 10 years 100 140 10 to 15 years 120 150 More than 15 years N/A Marketing Manager 3 to 5 years 100 120 5 to 10 years 100 150 10 to 15 years 120 150 More than 15 years 150+ Sales Director 3 to 5 years 100 120 5 to 10 years 120 180 10 to 15 years 150 200 More than 15 years 200+ Marketing Director 3 to 5 years 120+ 5 to 10 years 150 180 10 to 15 years 180 220 More than 15 years 220+ General Manager 3 to 5 years 120 150 5 to 10 years 150 200 10 to 15 years 200 250 More than 15 years 300+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Healthcare & Life Sciences 56

Salary & Employment Forecast SINGAPORE 2014 Human Resources Human Resources

Human Resources Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (19%) Slightly stronger (12%) Steady (65%) Slightly weaker (1%) Weaker (3%) 46% 35%? 19% Market observations: Hiring activity for human resources (HR) professionals in Singapore is currently steady. Companies are starting to place increased value on the HR function as a key business partner that influences critical areas such as staff attraction and retention as well as the Employee Value Proposition. HR professionals with varying skill sets will be needed across companies as they grow and as different focus areas emerge, for example learning and development, talent management and recruitment. Recruitment for HR professionals is expected to be strong in the healthcare industry as the sector continues to experience steady growth given the ageing population and a growing emphasis on wellbeing and longevity. Singapore s strong fast-moving consumer goods (FMCG) and retail industries translate into a steady need for operational HR professionals with strong skills in recruitment and payroll. HR professionals with skills in compensation and benefits are also highly sought-after as companies recognise that this remains the top employee attraction and retention tool and seek to be at the forefront to attract and retain the best talent, especially in the competitive market. A lot of companies remain focused on growing and expanding within the Asia Pacific region and HR professionals with talent acquisition and talent management skill sets will be in demand to help companies ensure the optimal attraction and retention of employees. With the large number of multinational companies having regional headquarters in Singapore, HR professionals with regional experience and familiarity with local labour laws, as well as cultural sensitivities will be required. A keen sense of commercial acumen in HR professionals will also put them in good stead as it enables an appreciation of business operations and the ability to understand and pre-empt human capital issues and potential risks. For manufacturing businesses with a large headcount and a mix of professionals and blue collar workers, a good sized HR team is required, consisting of HR professionals with diverse skill sets including industrial relations and union work. Over the coming 12 months, recruitment activity for HR professionals in Singapore is expected to remain strong. HR Business Partners, talent acquisition and talent management professionals will continue to be in demand in the coming year. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Human Resources 58

Human Resources Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months 33% 33% Yes, it will cause salaries to rise above the inflation rate (50%) 17% 17% Yes, salaries will increase but only at the rate of inflation (33%) No, the skills shortage will not impact salary levels (17%) Need to develop more targeted attraction strategies None It will be difficult to maintain headcount Source talent from overseas Human Resources 59

Human Resources Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 12% All my employees will receive the same percentage increase 1% - 5% 6% - 10% 76% 24% 80% All my employees will receive an increase, but it will vary according to performance 4% Only my best performing employees will receive an increase 4% No one in my team will receive an increase Market observations: Average salaries for HR professionals have increased over the last 12 months, with the average increase between 1% and 10%. HR business partners, specialists in compensation and benefits and talent acquisition and talent management professionals are most likely to be awarded above average salary increases as they remain the most highly sought-after professionals in the HR sector. Combination of factors likely to impact salary levels in the next 12 months* 58 % Global economic conditions 54 % 46 % 12 % 8 % 4 % Domestic economic conditions Competition with other companies Other (Inflation, etc.) Not sure Don t expect any factors to particularly impact salaries * More than one option could be selected. Human Resources 60

Human Resources Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 54% 46% 92% 8% Basis for bonuses over the next 12 months Average percentage bonus of gross salary 4 % Individual performance 1% - 5% 6% - 10% 11% - 15% 16% - 20% 5% 22% 42% 22% 96 % Combination of individual, team and company performance 21% - 30% 4% 31 40% 1% Above 40% 4% Human Resources 61

Human Resources Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 42%? 35% 23% $ 78% 22% Higher salary Broaden experience / opportunity to learn Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* 23% Recognition and rewards Structured career progression Strong company culture Company branding Training and mentoring partnerships Work-life balance initiatives 23% 19% 15% 11% 8% 27% 24% 58% Increased maternity/paternity leave 38% Flexible working arrangements Other (no overtime,holiday incentive, etc.) Team building/offsite activities Market observation: Most HR professionals prefer a mix of financial and non-financial rewards, with workplace flexibility becoming an emerging strategy employers are using for attraction and retention. 15% 12% Sabbatical leave Alternative leave options (e.g. volunteering) * More than one option could be selected. Human Resources 62

Human Resources Attraction & retention Combination of benefits offered to employees* 88 % Medical and dental benefits 58 % 46 % 46 % 23 % 19 % 12 % 8 % 8 % 4 % 4 % 4 % Mobile phone Parking Transport allowance Personal laptop Stock options Company car Personal loan Education loan Travel pass Housing loan Other (clothing allowance, flexi benefits and additional leave) Working hours Average weekly working hours Less than 37.5 hours 37.5-40 hours 40-45 hours 45-50 hours 50 hours or more 1 % 12 % 65 % 19 % 3 % * More than one option could be selected. Human Resources 63

Human Resources Salary Tables BANKING & FINANCE Role Salary SG$ 000 Payroll Specialist 3 to 5 years 45-65 5 to 10 years 65-100 10 to 15 years 100-130+ More than 15 years 130+ Mobility Specialist 3 to 5 years 50-70 5 to 10 years 70-120 10 to 15 years 120-150+ More than 15 years 150+ HRIS Specialist 3 to 5 years 50-85 5 to 10 years 85-130 10 to 15 years 130-150+ More than 15 years 150+ Learning and Development Specialist 3 to 5 years 60-100 5 to 10 years 100-150 10 to 15 years 150-180+ More than 15 years 180+ Recruitment Specialist 3 to 5 years 60-100 5 to 10 years 100-150 10 to 15 years 150-180+ More than 15 years 180+ HR Generalist/Business Partner 3 to 5 years 60-110 5 to 10 years 110-180 10 to 15 years 180-220+ More than 15 years 220+ Organisational Development 3 to 5 years 60-110 5 to 10 years 110-200 10 to 15 years 200-250+ More than 15 years 250+ Compensation and Benefits Specialist 3 to 5 years 60-120 5 to 10 years 120-200 10 to 15 years 200-250+ More than 15 years 250+ Head of Human Resources 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 250+ More than 15 years 300+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Human Resources 64

Human Resources Salary Tables COMMERCE & INDUSTRY Role Salary SG$ 000 Payroll Specialist 3 to 5 years 40-60 5 to 10 years 60-90 10 to 15 years 90-110+ More than 15 years 110+ Mobility Specialist 3 to 5 years 50-65 5 to 10 years 65-100 10 to 15 years 100-130+ More than 15 years 130+ HRIS Specialist 3 to 5 years 50-80 5 to 10 years 80-120 10 to 15 years 120-150+ More than 15 years 150+ Learning and Development Specialist 3 to 5 years 55-90 5 to 10 years 90-135 10 to 15 years 135-165+ More than 15 years 165+ Recruitment Specialist 3 to 5 years 55-90 5 to 10 years 90-135 10 to 15 years 135-165+ More than 15 years 165+ HR Generalist/Business Partner 3 to 5 years 55-100 5 to 10 years 100-160 10 to 15 years 160-190 More than 15 years 190+ Organisational Development 3 to 5 years 55-100 5 to 10 years 100-160 10 to 15 years 160-200 More than 15 years 200+ Compensation and Benefits Specialist 3 to 5 years 60-120 5 to 10 years 120-180 10 to 15 years 180-250+ More than 15 years 250+ Head of Human Resources 10 to 15 years 220+ More than 15 years 260+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Human Resources 65

Salary & Employment Forecast SINGAPORE 2014 legal Legal

LEGAL Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (6%) Slightly stronger (33%) Steady (61%) 61% 39% Market observations: Recruitment activity for legal professionals in Singapore is currently steady and is expected to remain strong during the next 12 months. Locally listed multinationals house sizeable teams of in-house lawyers to provide legal support on a Group basis due to Singapore being their corporate headquarters. Similarly many foreign multinationals base their regional headquarters in Singapore, which results in the investment of legal teams to render legal support and advice to the region. The Qualifying Foreign Law Practice (QFLP) Scheme an initiative by the Singapore government to develop the legal sector and build its status as a legal hub now allows foreign law firms to practice in permitted areas of Singapore law. This has resulted in increased recruitment activity from QFPL firms looking to recruit locally qualified lawyers. As companies face a myriad of business risks in their quest to maximise profits and performance, legal professionals who provide well-rounded legal support and can achieve a healthy balance between minimising legal risks, while meeting business objectives are well regarded. Locally qualified in-house and corporate commercial lawyers will also be in high demand. Singapore is the Asia Pacific headquarters for many multinationals, (including China). Given that China is a predominant focus of growth, proficiency in Mandarin both spoken and written has become a core competency for many companies when considering law professionals in Singapore. Employers in the Information Technology and Telecommunications (IT&T) industry will have strong demand for legal professionals in Singapore to address business risks and issues created by fast-paced product launches. The huge volume of contracts in the IT&T industry will also add to the need for legal professionals to support the business and management. Consistent recruitment activity for legal professionals working in the oil and gas industry is expected as this area is relatively resistant to economic downturns and companies typically maintain a seasoned legal team due to the complex nature of the industry and heavy regulations. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Legal 67

LEGAL Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months Yes, it will cause salaries to rise above the inflation rate (55%) 55% Yes, salaries will increase but only at the rate of inflation (36%) 18% 18% 9% No, the skills shortage will not impact salary levels (9%) Need to develop more targeted attraction strategies It will be difficult to maintain headcount Source talent from overseas None Legal 68

LEGAL Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 22% All my employees will receive the same percentage increase 72% 1% - 5% 6% - 10% 11% - 15% 41% 53% 6% All my employees will receive an increase, but it will vary according to performance 6% No one in my team will receive an increase Combination of factors likely to impact salary levels in the next 12 months* Market observations: The average salaries legal professionals have increased over the last 12 months by 1% to 10%. Locally qualified legal professionals will be awarded above average salary increases. Corporate commercial lawyers and lawyers with strong proficiency in Mandarin can also expect to receive above average salary increases as they remain the most sought-after legal talent. 53 % Domestic economic conditions 47 % 18 % 12 % 6 % 6 % Global economic conditions Competition with other companies Not sure Other (company performance, individual performance, inflation, etc.) Don t expect any factors to particularly impact salaries * More than one option could be selected. Legal 69

LEGAL Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 50% 50% 94% 6% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Individual performance 1% - 5% 13% 6% - 10% 6% Team performance 19 % 11% - 15% 16% - 20% 38% 19% 13 % 6 % Company performance 21% - 30% 19% 31% - 40% 5% 62 % Combination of all Legal 70

LEGAL Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 39% 33% 28%? 43% $ 29% 14% 14% Broaden experience / opportunity to learn Higher salary Promotion Achieve better work/life balance Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* 33% Structured career progression Work-life balance initiatives Company branding Recognition and rewards Strong company culture International opportunities 22% 17% 11% 11% 6% 17% 61% Flexible working arrangements 33% Increased maternity/paternity leave 28% Team building/offsite activities Other (no overtime,results based rather than time based, etc.) Market observations: 11% Alternative leave options (e.g. volunteering) Law professionals in Singapore generally prefer to receive a mix of financial and non-financial rewards from their employers. Key nonfinancial rewards include work-life balance and flexibility. 6% Sabbatical leave * More than one option could be selected. Legal 71

LEGAL Attraction & retention Combination of benefits offered to employees* 78 % 50 % 22 % 17 % 17 % 6 % 6 % 6 % 6 % Medical and dental benefits Mobile phone Personal laptop Parking Transport allowance Company car Travel pass Stock options None Working hours Average weekly working hours Less than 37.5 hours 37.5-40 hours 40-45 hours 45-50 hours 50 hours or more 1 % 11 % 66 % 11 % 11 % * More than one option could be selected. Legal 72

LEGAL Salary Tables LAWYERS Role Experience Salary SG$ 000 PRIVATE PRACTICE (LOCAL FIRMS) Newly Qualified - 3 years PQE 3 years 65-110 4-7 years PQE 4-7 years 110-180 8 years PQE and above 8 years 180+ PRIVATE PRACTICE (INTERNATIONAL FIRMS) Newly Qualified - 3 years PQE 3 years 90-180 4-7 years PQE 4-7 years 180-280 8 years PQE and above 8 years 280+ Please note: The above table includes salary data collected from leading and international law firms. Role Experience Salary SG$ 000 IN-HOUSE CORPORATE (MNC) < 3 years PQE 3 years 60-110 4-7 years PQE 4-7 years 110-160 8 years PQE and above 8 years 160+ Please note: The above table includes salary data collected from Singapore private and listed companies, and multinational corporations. Role Experience Salary SG$ 000 FINANCIAL SERVICES < 3 years PQE 3 years 70-120 4-7 years PQE 4-7 years 120-180 8 years PQE and above 8 years 180+ Please note: The above table includes salary data collected from international/investment banks, local banks, insurance companies and fund/private equity/security houses. Role Experience Salary SG$ 000 PARALEGALS & LEGAL SECRETARIES Paralegal 3 to 5 years 30-60 Corporate Secretarial Assistants 3 to 5 years 60+ CORPORATE SECRETARIAT Non ICSA-certified > 5 years 70+ ICSA-certified > 5 years 85+ Please note: The above table includes salary data collected from leading and international law firms. Please note: 1. The above tables are based on basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salaries can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. 3. This is representative of our services within Singapore. 4. The figures in this guide are based around Singapore levels of PQE, with the exception of the international law firms where Singapore lawyers and other lawyers who have not completed their 2 year training contracts are usually required to take a discount on their qualification date. The typical discount is 18months. Legal 73

Salary & Employment Forecast SINGAPORE 2014 Procurement & Supply Chain Procurement & Supply Chain

Procurement & Supply Chain Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (35%) Slightly stronger (10%) Steady (40%) Slightly weaker (1%) Weaker (14%) 40% 55%? 5% Market observations: Hiring activity for procurement, supply chain and logistics professionals has been strong in the last 12 months and is expected to remain strong in the coming year. Attractive tax rates and incentives awarded by the Economic Development Board of Singapore will see Singapore remain an attractive location to set up regional headquarters for companies. As a result, manufacturing output for organisations will remain stable and resilient. The low level of unemployment in Singapore has led to a shortage of talented professionals required by multinationals as they look to establish their regional hub in the city. Regional positions with a permanent base in Singapore will be created by companies establishing local regional hubs. Supply Chain Solution Specialists and Stanford Certified Project Managers (SCPM) will also be valued by third party logistics (3PL) organisations as they help provide unique selling propositions, such as cost cutting and operational delivery to their clients. The demand for niche skill sets, such as category management, business process improvement and production planning will also be on the rise as companies expand their businesses and upskill the local talent. Attrition and movement among procurement and supply chain professionals is expected to increase recruitment activity in the first quarter of 2014, following the December annual wage supplement (AWS) and variable bonus payments. Hiring activity for sales and procurement professionals is expected to be strongest within the pharmaceutical, chemical and fast moving consumer goods (FMCG) industries as they expand or set up regional hubs in Singapore. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Procurement & Supply Chain 75

Procurement & Supply Chain Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months 37% Yes, it will cause salaries to rise above the inflation rate (38%) 25% 25% 13% Yes, salaries will increase but only at the rate of inflation (50%) No, the skills shortage will not impact salary levels (12%) None Source talent from overseas Need to develop more targeted attraction strategies Other Procurement & Supply Chain 76

Procurement & Supply Chain Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 10% All my employees will receive the same percentage increase 85% 1% - 5% 6% - 10% 11% - 15% 65% 30% 5% All my employees will receive an increase, but it will vary according to performance 5% Only my best performing employees will receive an increase Combination of factors likely to impact salary levels in the next 12 months* Market observations: Average salary increases for procurement, supply chain and logistics professionals have remained constant over the last 12 months. 60 % 60 % 45 % 20 % Domestic economic conditions Competition with other companies Global economic conditions Other (growth potential, company financial performance, etc.) Procurement, supply chain and logistics management professionals with niche skill sets or experience can expect to receive above average salary increments as employers look to attract and retain top talent during prolonged periods of regional expansion. The pharmaceutical and oil and gas industries are expected to award higher than average increases to procurement, supply chain and logistics professionals as they are in strong growth positions and require professionals with niche skills and experience that are key to strengthening their business. * More than one option could be selected. Procurement & Supply Chain 77

Procurement & Supply Chain Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 55% 45% 95% 5% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Individual performance 1% - 5% 5% 6% - 10% 36% 32 % Company performance 11% - 15% 16% - 20% 41% 1% 21 % 21% - 30% 5% 31% - 40% 1% Above 40% 11% 47 % Combination of individual, team and company performance Procurement & Supply Chain 78

Procurement & Supply Chain Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 75% $ 20% 5%? 60% 20% 13% 7% Higher salary Broaden experience /opportunity to learn Achieve better work/life balance Promotion Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* Structured career progression Strong company culture Work-life balance initiatives Company branding Recognition and rewards 35% 30% 15% 15% 5% 70% Flexible working arrangements 40% Team building/offsite activities 20% Alternative leave options (e.g. volunteering) 15% Increased maternity/paternity leave Market observations: 15% Other (no overtime, holiday incentive, etc.) Most procurement, supply chain and logistics professionals prefer to receive financial incentives from their employer such as sign-on and annual bonuses. 10% Sabbatical leave * More than one option could be selected. Procurement & Supply Chain 79

Procurement & Supply Chain Attraction & retention Combination of benefits offered to employees* 85 % 80 % 75 % Medical and dental benefits Transport allowance Mobile phone 50 % 50 % 40 % 15 % 10 % 5 % 5 % 5 % Parking Personal laptop Company car Education loan Personal loan Stock options None Other (additional leave) Working hours Average weekly working hours Less than 37.5 hours 37.5-40 hours 40-45 hours 45-50 hours 50 hours or more 1 % 19 % 75 % 4 % 1 % * More than one option could be selected. Procurement & Supply Chain 80

Procurement & Supply Chain Salary Tables OIL & GAS/PHARMACEUTICALS Role Salary SG$ 000 Supply Chain 3 to 5 years 40 80 5 to 10 years 90 140 10 to 15 years 150 200 Quality 3 to 5 years 50 70 5 to 10 years 80 110 10 to 15 years 120 160 Distribution/Warehousing 3 to 5 years 50 70 5 to 10 years 80 130 10 to 15 years 150 180 Logistics/3PL 3 to 5 years 50 80 5 to 10 years 80 110 10 to 15 years 120 180 Direct 3 to 5 years 50 80 5 to 10 years 95 140 10 to 15 years 140 180 Quality 3 to 5 years 50 80 5 to 10 years 95 140 10 to 15 years 140 180 Planning 3 to 5 years 50 90 5 to 10 years 95 150 10 to 15 years 150 200 Indirect 3 to 5 years 50 90 5 to 10 years 100 150 10 to 15 years 160 220 LEAN/Six Sigma 3 to 5 years 50 90 5 to 10 years 100 150 10 to 15 years 160 220 Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Procurement & Supply Chain 81

Procurement & Supply Chain FMCG RETAIL Role Salary SG$ 000 Direct 3 to 5 years 40-70 5 to 10 years 80-120 10 to 15 years 130-180 Logistics/3PL 3 to 5 years 50-80 5 to 10 years 80-120 10 to 15 years 130-170 Supply Chain 3 to 5 years 50-80 5 to 10 years 80-130 10 to 15 years 150-220 Distribution/Warehousing 3 to 5 years 50-80 5 to 10 years 80 130 10 to 15 years 130 160 Planning 3 to 5 years 50-80 5 to 10 years 80-150 10 to 15 years 150-220 Indirect 3 to 5 years 50-80 5 to 10 years 90 140 10 to 15 years 160 220 LEAN/Six Sigma 3 to 5 years 60-90 5 to 10 years 100 150 10 to 15 years 160 220 Procurement & Supply Chain 82

Procurement & Supply Chain TECHNOLOGY Role Salary SG$ 000 Direct 3 to 5 years 50 70 5 to 10 years 80 120 10 to 15 years 130 220 Logistics/3PL 3 to 5 years 50 80 5 to 10 years 80 120 10 to 15 years 130 170 Supply Chain 3 to 5 years 50 80 5 to 10 years 80 130 10 to 15 years 150 220 Distribution/Warehousing 3 to 5 years 50 80 5 to 10 years 80 130 10 to 15 years 140 170 Planning 3 to 5 years 50 80 5 to 10 years 80 140 10 to 15 years 150 220 Indirect 3 to 5 years 50 80 5 to 10 years 90 140 10 to 15 years 160 220 LEAN/Six Sigma 3 to 5 years 60 90 5 to 10 years 100 150 10 to 15 years 160 220 FINANCIAL SERVICES Role Salary SG$ 000 Procurement/Strategic Sourcing 3 to 5 years 50 90 5 to 10 years 100 150 10 to 15 years 160 220 Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Procurement & Supply Chain 83

Salary & Employment Forecast SINGAPORE 2014 Property & Construction Property & Construction

Property & Construction Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (16%) Slightly stronger (32%) Steady (47%) Slightly weaker (4%) Weaker (1%) 63%? 32% 5% Market observations: Hiring activity for property and construction professionals in Singapore in the last 12 months was relatively weak, however recruitment is expected to pick up and remain steady in 2014. Investment and project decisions that were delayed during Q4 2013 will take form in 2014, creating demand for professionals across property and construction. Companies that had hiring freezes for non-essential roles are expected to begin hiring now that recruitment budgets and plans for 2014 have been set. Property professionals specialising in real estate expansion and landlord leasing are currently the most sought-after in the industry. These professionals are helping to strengthen retail landlords internal leasing capability as competition for space throughout Singapore remains high. Specialist knowledge in leasing management will be sought-after by both landlords and tenants as they seek to ensure their portfolios of leases work as efficiently as possible through effective lease management. Strong consumer demand across retail, food and beverage (F&B) and hospitality markets is impacting the demand for property professionals as these businesses require professionals with a strong real estate owner network and knowledge in order to expand regionally. Real estate expansion by consumer driven industries such as retail, F&B and niche sectors such as education services is creating demand for property professionals with these specialisations. Although project led initiatives have been delayed, businesses in property and construction still see the need to manage existing assets. Additionally, demand exists within service provider organisations due to the outsourcing of contracts. Continued demand for professionals with expertise in facilities management services will be expected due to the continual outsourcing of facilities services and the growth of owned or leased portfolios. The resumption of projects that were delayed in the last 12 months will translate into a spike in demand for project management as these projects are awarded. This is causing a ripple effect and creating increased demand for quantity surveyors and construction professionals with expertise in engineering and design services. A shortage of property and construction professionals with project management capabilities in Singapore and across the region will be more pronounced as companies roll out their project pipelines. Knowledge of claims and contract management among construction professionals will be highly regarded as businesses seek to protect and safeguard themselves against contractual and claims issues, both internally and externally. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Property & Construction 85

Property & Construction Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months 50% Yes, it will cause salaries to rise above the inflation rate (42%) Yes, salaries will increase but only at the rate of inflation (50%) 33% 17% No, the skills shortage will not impact salary levels (8%) Source talent from overseas Need to develop more targeted attraction strategies It will be difficult to maintain headcount Property & Construction 86

Property & Construction Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 5% All my employees will receive the same percentage increase 63% All my employees will receive an increase, but it will vary according to performance 1% - 5% 6% - 10% 11% - 15% Market observations: 44% 39% 17% 26% Only my best-performing employees will receive an increase 6% No one in my team will receive an increase The average salary of property and construction professionals has remained steady over the last 12 months. Property and construction professionals with skills in project management, contracts and claims, as well as brokerage can expect to receive above average salary increases from their employers as competition for talent will increase in the coming year. Combination of factors likely to impact salary levels in the next 12 months* 50 % Domestic economic conditions 50 % 33 % Competition with other companies Global economic conditions 11 % 6 % Not sure Don't expect any factors to particularly impact salaries * More than one option could be selected. Property & Construction 87

Property & Construction Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 53% 47% 95% 5% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Individual performance 1% - 5% 6% - 10% 17% 44% Team performance 22 % Company performance 11% - 15% 27% 16% - 20% 6% 21% - 30% 6% 11 % 17 % 50 % Combination of all Property & Construction 88

Property & Construction Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 63% 32%? 5% $ 50% 34% 8% 8% Higher salary Broaden experience / opportunity to learn Achieve better work-life balance Overseas opportunities Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* 37% Structured career progression Strong company culture Company branding Recognition and rewards 26% 26% 11% 21% 42% Flexible working arrangements 42% Team building/offsite activities Increased maternity/paternity leave 16% Sabbatical leave Market observations: The early announcement of bonuses is encouraging professionals to stay in their role to receive their bonus rather than move on. Fiscal penalties have also been introduced by companies for employees leaving within the first one to two years. Most property and construction professionals prefer to receive financial rewards from their employer. 10% 11% Alternative leave options (e.g. volunteering) Other (no overtime, holiday incentive, etc.) * More than one option could be selected. Property & Construction 89

Property & Construction Attraction & retention Combination of benefits offered to employees* 89 % 73 % 58 % 58 % Medical and dental benefits Mobile phone Personal laptop Transport allowance 42 % 26 % 16 % 16 % 5 % 5 % 5 % Parking Stock options Company car Personal loan Housing loan Education loan Travel pass Working hours Average weekly working hours Less than 37.5 hours 37.5-40 hours 40-45 hours 45-50 hours 50 hours or more 5 % 11 % 26 % 53 % 5 % * More than one option could be selected. Property & Construction 90

Property & Construction Salary Tables CORPORATE REAL ESTATE Role Salary SG$ 000 Environment Health & Safety 3 to 5 years 45-60 5 to 10 years 60-110 10 to 15 years 100-150 More than 15 years 130+ Facilities Management & Corporate Services 3 to 5 years 45-60 5 to 10 years 60-115 10 to 15 years 110-160 More than 15 years 140+ Property Management 3 to 5 years 45-60 5 to 10 years 60-120 10 to 15 years 100-140 More than 15 years 130+ Security & BCP 3 to 5 years 45-60 5 to 10 years 60-125 10 to 15 years 120-180 More than 15 years 180+ Leasing & Transaction Management 3 to 5 years 45-60 5 to 10 years 60-130 10 to 15 years 120-185 More than 15 years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Property & Construction 91

Property & Construction PROJECTS Role Salary SG$ 000 Design Management 3 to 5 years 40-60 5 to 10 years 60-100 10 to 15 years 100-125 More than 15 years 120+ Office Fit-Out 3 to 5 years 40-60 5 to 10 years 50-100 10 to 15 years 100-140 More than 15 years 140+ Construction & Project Management 3 to 5 years 45-70 5 to 10 years 70-120 10 to 15 years 110-150 More than 15 years 150+ Project Development 3 to 5 years 60-90 5 to 10 years 90-145 10 to 15 years 140-170 More than 15 years 170+ REAL ESTATE INVESTMENTS Role Salary SG$ 000 Asset Management Analyst 45-80 Associate 80-120 Vice Presidents 120-180 SVP/Director 180+ Portfolio Management Analyst 45-80 Associate 80-120 Vice Presidents 120-160 SVP/Director 160+ Investment Management Analyst 45-80 Associate 80-150 Vice Presidents 150-200 SVP/Director 200+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Property & Construction 92

Salary & Employment Forecast SINGAPORE 2014 SALES & MARKETING Sales & Marketing

Sales & MARKETING Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (7%) Slightly stronger (24%) Steady (56%) 55% Slightly weaker (3%) Weaker (10%) 41%? 4% Market observations: Current hiring activity for sales and marketing professionals in Singapore is steady and will continue to remain so over the coming 12 months. Skill shortages, high turnover and the sourcing of local talent remain key challenges for employers. Internal promotion, internal transfer or employee referrals are expected to counter these difficulties. The Ministry of Manpower quota mandated by the Singapore government continues to result in a high turnover of sales and marketing professionals. Some companies are facing the challenge of sourcing local talent who are not affected by the rule. Industrial manufacturing performed well in the second half of 2013 and is set to remain strong in the next 12 months, as manufacturers sell to the oil and gas and construction markets. Multinationals looking to open or expand their Asian hubs will also contribute to creating demand for sales and marketing professionals. The services and technology sectors are experiencing strong hiring activity for sales and marketing professionals as Singapore remains an attractive regional hub for both areas. Roles in highest demand include Head of Social Media as companies increasingly place more emphasis on social media and its growing importance in the marketing and communications strategy. A presence on social media is instrumental for brand awareness and equity, increasing revenue, and for recruiting new customers or employees. As organisations in Singapore mature, there will be a demand for Business Development Managers to help grow, manage and consolidate the business. Country Managers and General Managers will also be in demand as employers look to the local talent pool to replace expats. Strong competition between companies at local and regional levels will increase the shortage of skilled local talent among sales and marketing professionals and create the need for strong business development profiles. Localisation for foreign companies with a local presence will also create opportunities for sales and marketing professionals as they look for local talent to replace their expat headcount to help manage costs. The fast maturing electronic and digital presence in companies marketing strategies will create high demand for sales and marketing professionals with structured and specific skill sets such as online customer relationship management (CRM), ecommerce and loyalty programs. In addition to business development, sales and marketing professionals with skills in corporate communications, public relations and investor relations will be in demand as companies place increased emphasis on managing their reputation. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Sales & Marketing 94

Sales & MARKETING Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months 50% Yes, it will cause salaries to rise above the inflation rate (38%) Yes, salaries will increase but only at the rate of inflation (44%) 25% 19% 6% No, the skills shortage will not impact salary levels (18%) Need to develop more targeted attraction strategies Source talent from overseas It will be difficult to maintain headcount None Sales & Marketing 95

Sales & MARKETING Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 10% All my employees will receive the same percentage increase 77% 1% - 5% 6% - 10% 11% - 15% 52% 28% 20% All my employees will receive an increase, but it will vary according to performance 10% Only my best performing employees will receive an increase 3% No one in my team will receive an increase Combination of factors likely to impact salary levels in the next 12 months* Market observations: The average salaries of sales and marketing professionals in Singapore increased between 1% and 10% in the last 12 months. 66 % 48 % 41 % Competition with other companies Domestic economic conditions Global economic conditions The strong demand for sales and marketing professionals with skills in ecommerce, corporate communications and business development will see this group of professionals awarded with above average salary increases over the coming year. 7 % 3 % 3 % Not sure Other (company performance, etc.) Don't expect any factors to impact salaries * More than one option could be selected. Sales & Marketing 96

Sales & MARKETING Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 90% 10% 87% 13% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Individual performance 1% - 5% 23% Team performance 15 % 6% - 10% 11% - 15% 39% 19% Company performance 16% - 20% 19% 12 % 27 % 46 % Combination of all Sales & Marketing 97

Sales & MARKETING Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 59% 31%? 10% $ 53% 17% 12% 6% 6% 6% Higher salary Achieve better work-life balance Broaden experience / opportunity to learn Promotion Other (better job stability, etc.) Overseas opportunities Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* Recognition and rewards Structured career progression Strong company culture Company branding Training and mentoring partnerships International opportunities Work-life balance initiatives 39% 21% 14% 10% 10% 3% 3% 55% Flexible working arrangements 52% Team building/offsite activities 28% Increased maternity/paternity leave 17% Alternative leave options (e.g. volunteering) 10% Sabbatical leave Market observations: Employers in Singapore looking to attract local sales and marketing professionals are starting to look at alternative hiring strategies such as social media and online talent management portals. Majority of the sales and marketing professionals in Singapore prefer to receive financial rewards from their employer. 7% Other (job rotation,holiday incentive, etc.) * More than one option could be selected. Sales & Marketing 98

Sales & MARKETING Attraction & retention Combination of benefits offered to employees* 83 % 69 % 66 % Medical and dental benefits Mobile phone Transport allowance 24 % 21 % 17 % 7 % 4 % 3 % 3 % Parking Personal laptop Company car Stock options Other (accomodation, etc.) Travel pass Housing loan Working hours Average weekly working hours Less than 37.5 hours 37.5-40 hours 40-45 hours 45-50 hours 50 hours or more 1 % 28 % 41 % 17 % 13 % * More than one option could be selected. Sales & Marketing 99

Sales & MARKETING Salary Tables Healthcare & LifescienceS Role Salary SG$ 000 Product Manager 3 to 5 years 60-80 5 to 10 years 80-110 10 to 15 years N/A More than 15 years N/A Group Product Manager 3 to 5 years 100-130 5 to 10 years 130-160 10 to 15 years 150+ More than 15 years N/A Communications Manager 3 to 5 years 65-80 5 to 10 years 80-130 10 to 15 years 120-220 More than 15 years 200+ Marketing Manager 3 to 5 years 80-100 5 to 10 years 90-150 10 to 15 years 140-220 More than 15 years 200+ Sales Manager 3 to 5 years 60-85 5 to 10 years 90-130 10 to 15 years 150+ More than 15 years N/A Business Unit Manager 3 to 5 years 90-110 5 to 10 years 120-150 10 to 15 years N/A More than 15 years N/A Business Development Manager / Director 3 to 5 years 90-110 5 to 10 years 120-150 10 to 15 years 150+ More than 15 years N/A Sales Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 150-220 More than 15 years 200+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 100

Sales & MARKETING Healthcare & LifescienceS Role Salary SG$ 000 Marketing Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 180-220 More than 15 years 220+ Business Unit Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 180-300 More than 15 years 250-330+ General Manager 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 180-300 More than 15 years 300+ Manufacturing & Industrial Role Salary SG$ 000 Sales Engineer 3 to 5 years 30-45 5 to 10 years N/A 10 to 15 years N/A More than 15 years N/A Senior Sales Engineer 3 to 5 years 35-55 5 to 10 years N/A 10 to 15 years N/A More than 15 years N/A Marketing/Marcom/Public Relations Executive 3 to 5 years 40-60 5 to 10 years N/A 10 to 15 years N/A More than 15 years N/A Account Manager 3 to 5 years 55-80 5 to 10 years 70-100 10 to 15 years N/A More than 15 years N/A Key Account Manager 3 to 5 years 55-80 5 to 10 years 70-100 10 to 15 years N/A More than 15 years N/A Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 101

Sales & MARKETING Manufacturing & Industrial Role Salary SG$ 000 Sales Executive 3 to 5 years 40-55 5 to 10 years N/A 10 to 15 years N/A More than 15 years N/A Sales Manager 3 to 5 years N/A 5 to 10 years 75-110 10 to 15 years 110-130 More than 15 years 130-150 Marketing Manager 3 to 5 years N/A 5 to 10 years 75-110 10 to 15 years 110-130 More than 15 years 130-150 Product Manager 3 to 5 years N/A 5 to 10 years 70-100 10 to 15 years 100-140 More than 15 years 140-160 Marketing Communications Manager 3 to 5 years N/A 5 to 10 years 80-110 10 to 15 years 110-140 More than 15 years 140-160 Business Development Manager 3 to 5 years N/A 5 to 10 years 90-130 10 to 15 years 110-150 More than 15 years 150-170 Senior Marketing Manager 3 to 5 years N/A 5 to 10 years 85-110 10 to 15 years 110-150 More than 15 years 150-170 Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 102

Sales & MARKETING Manufacturing & Industrial Role Salary SG$ 000 Sales Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 130-160 More than 15 years 160-180 Marketing Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 140-170 More than 15 years 170-200 Managing Director/General Manager 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 160-200 More than 15 years 200-250 Banking & Financial Services Role Salary SG$ 000 Public Relations / Corporate Communications Manager 3 to 5 years 50-80 5 to 10 years 70-120 10 to 15 years 100-180 More than 15 years N/A AVP / Marketing Manager 3 to 5 years N/A 5 to 10 years 70-120 10 to 15 years 90-150 More than 15 years N/A VP / Senior Marketing Manager 3 to 5 years N/A 5 to 10 years 90-120 10 to 15 years 100-150 More than 15 years 130+ Digital / ecommerce Marketing Manager 3 to 5 years 50-80 5 to 10 years 70-120 10 to 15 years 100-180 More than 15 years 150+ Corporate Communications Director 3 to 5 years N/A 5 to 10 years 90-150 10 to 15 years 110-200 More than 15 years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 103

Sales & MARKETING Banking & Financial Services Role Salary SG$ 000 Marketing Director 3 to 5 years N/A 5 to 10 years 100-180 10 to 15 years 150-250 More than 15 years 200+ FMCG & Consumer Products Role Salary SG$ 000 Sales / Key Account Manager 3 to 5 years 50-70 5 to 10 years 70-100 10 to 15 years 100-130 More than 15 years 130+ Trade Marketing Manager 3 to 5 years 40-70 5 to 10 years 70-100 10 to 15 years 100-130 More than 15 years 130+ Brand Manager / Product Manager 3 to 5 years 60-80 5 to 10 years 80-150 10 to 15 years 150-200 More than 15 years N/A PR Manager 3 to 5 years 40-70 5 to 10 years 70-100 10 to 15 years 100-130 More than 15 years 130+ Marketing Communications Manager 3 to 5 years 50-80 5 to 10 years 90-100 10 to 15 years 100-130 More than 15 years 130-150 Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 104

Sales & MARKETING FMCG & Consumer Products Role Salary SG$ 000 Sales Manager 3 to 5 years 50-80 5 to 10 years 80-100 10 to 15 years 100-130 More than 15 years 130+ Sales Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 220-280 More than 15 years 250+ Digital / ecommerce Marketing Manager 3 to 5 years 50-80 5 to 10 years 80-100 10 to 15 years 100-130 More than 15 years 130+ Senior Brand Manager 3 to 5 years 50-80 5 to 10 years 80-110 10 to 15 years 110-130 More than 15 years 130+ Marketing Manager 3 to 5 years 80-110 5 to 10 years 100-140 10 to 15 years 140+ More than 15 years N/A Senior Marketing Manager 3 to 5 years N/A 5 to 10 years 100-140 10 to 15 years 140+ More than 15 years N/A Marketing Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 140+ More than 15 years N/A Managing Director/General Manager 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 200+ More than 15 years 250+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 105

Sales & MARKETING IT& Telco Role Salary SG$ 000 Marketing/Marcom/Public Relations Executive 3 to 5 years 45-65 5 to 10 years N/A 10 to 15 years N/A More than 15 years N/A Sales Executive 3 to 5 years 45-65 5 to 10 years N/A 10 to 15 years N/A More than 15 years N/A Marketing Communications Manager 3 to 5 years N/A 5 to 10 years 70-100 10 to 15 years 100-130 More than 15 years 130-160 Brand Manager 3 to 5 years N/A 5 to 10 years 70-100 10 to 15 years 100-120 More than 15 years 120-150 PR Manager 3 to 5 years N/A 5 to 10 years 70-100 10 to 15 years 100-130 More than 15 years 130-160 Product Manager 3 to 5 years N/A 5 to 10 years 70-100 10 to 15 years 100-120 More than 15 years 120-150 Account Manager 3 to 5 years 55-70 5 to 10 years 70-90 10 to 15 years 90-110 More than 15 years 110-135 Marketing Manager 3 to 5 years N/A 5 to 10 years 70-100 10 to 15 years 100-120 More than 15 years 120-150 Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 106

Sales & MARKETING IT& Telco Role Salary SG$ 000 Key Account Manager 3 to 5 years 55-70 5 to 10 years 70-90 10 to 15 years 90-110 More than 15 years 110-135 Business Development Manager 3 to 5 years 55-75 5 to 10 years 75-120 10 to 15 years 120-160 More than 15 years 160-220 Sales Manager 3 to 5 years 55-75 5 to 10 years 75-120 10 to 15 years 120-160 More than 15 years 160-220 Senior Marketing Manager 3 to 5 years N/A 5 to 10 years 85-110 10 to 15 years 110-145 More than 15 years 145-180 Marketing Director 3 to 5 years N/A 5 to 10 years 95-120 10 to 15 years 120-155 More than 15 years 155-195 Sales Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 160-190 More than 15 years 190-260 Managing Director/General Manager 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 190-240 More than 15 years 240-300 Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 107

Sales & MARKETING Retail Role Salary SG$ 000 Regional Retail Operations Manager 3 to 5 years N/A 5 to 10 years 100-130 10 to 15 years 130+ More than 15 years N/A Country General Manager 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 180+ More than 15 years 200+ Regional General Manager 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 200+ More than 15 years N/A Professional Services Role Salary SG$ 000 Digital / Social Media Manager 3 to 5 years 60-80 5 to 10 years 70-150 10 to 15 years 120-200 More than 15 years N/A Research /Insights Manager 3 to 5 years 70-90 5 to 10 years 80-150 10 to 15 years 100-220 More than 15 years N/A Marketing Manager 3 to 5 years N/A 5 to 10 years 80-150 10 to 15 years 100-220 More than 15 years N/A Public Relations / Media Communications Manager 3 to 5 years 50-80 5 to 10 years 70-150 10 to 15 years 120-180 More than 15 years 150+ Business Development Manager / Account Manager 3 to 5 years 50-80 5 to 10 years 70-140 10 to 15 years 120-180 More than 15 years N/A Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 108

Sales & MARKETING Professional Services Role Salary SG$ 000 Sales Manager 3 to 5 years N/A 5 to 10 years 80-150 10 to 15 years 120-200 More than 15 years 180+ Business Development Director /Sales Director 3 to 5 years N/A 5 to 10 years 100-150 10 to 15 years 120-150 More than 15 years 200+ Marketing Director 3 to 5 years N/A 5 to 10 years 100-170 10 to 15 years 120-250 More than 15 years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 109

Salary & Employment Forecast SINGAPORE 2014 technology Technology

Technology Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (14%) Slightly stronger (7%) Steady (61%) Slightly weaker (18%) 53% 43%? 4% Market observations: Currently, hiring activity of technology professionals in Singapore is steady and is expected to remain steady over the next 12 months as there is some caution among employers around increasing headcount for technology professionals. There is a stable demand for technology talent in Singapore as Asia continues to be a region for growth for most organisations. Hiring activity is strongest for IT Managers and professionals with experience in infrastructure operations as companies set up their regional headquarters based in Singapore. Roles such as Service Delivery Managers and Infrastructure Engineers are in demand to support expanding business infrastructure in the region. Java and.net Developers will continue to be in demand as they are key to the delivery of software development projects. With the increasing prominence in cloud computing and big data, more companies are embracing cloud technology and increasing investment in big data. As a result, the demand for candidates with experience in virtualisation, cloud, business intelligence and overall IT security continues to grow. As companies look at increasing revenue and customer acquisition, implementation professionals with skills in ERP,CRM and business infrastructure will be sought-after to manage these growing needs. Growing and maturing businesses rolling out new systems will create opportunities for technology professionals with skills in change management to train and ensure proper implementation that will drive continuous growth and business improvements. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Technology 111

Technology Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months 40% Yes, it will cause salaries to rise above the inflation rate (34%) Yes, salaries will increase but only at the rate of inflation (33%) No, the skills shortage will not impact salary levels (33%) Need to develop more targeted attraction strategies 27% Source talent from overseas 20% It will be difficult to maintain headcount 13% None Technology 112

Technology Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 17% All my employees will receive the same percentage increase 67% 1% - 5% 6% - 10% 11% - 15% 75% 18% 7% All my employees will receive an increase, but it will vary according to performance 10% Only my best performing employees will receive an increase 6% No one in my team will receive an increase Combination of factors likely to impact salary levels in the next 12 months* Market observations: The average salary of technology professionals in Singapore has increased in the last 12 months by 1% to 10%. 45 % 41 % 34 % 17 % 14 % Competition with other companies Global economic conditions Domestic economic conditions Not sure Other (company performance, etc.) Project Managers, Business Analysts and Developers will be awarded above average salary increases as companies compete to attract and retain this group of highly sought-after professionals. Technology professionals with skills specialising in ERP, CRM, business infrastructure and change management are likely to be offered competitive wage increases as they continue to be in demand and are limited. 3 % Don t expect any factors to particularly impact salaries * More than one option could be selected. Technology 113

Technology Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 73% 27% 97% 3% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Company performance Individual performance 1% - 5% 25% 11 % 14 % 6% - 10% 39% 11% - 15% 21% 16% - 20% 11% 21% - 30% 4% 75 % Combination of individual, team and company performance Technology 114

Technology Attraction & retention Employer expectations for staff turnover in the next 12 months 59% Key reasons employees are likely to leave $ 28% 13%? 52% 18% 12% 12% 6% Higher salary Promotion Broaden experience / opportunity to learn Achieve better work-life balance Other (company relocation, company culture, job security, etc.) Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* Recognition and rewards Company branding Structured career progression Work-life balance initiatives International opportunities Training and mentoring partnerships Strong company culture 26% 21% 18% 14% 7% 7% 7% 79% Flexible working arrangements 52% Team building/offsite activities 29% Increased maternity/paternity leave 25% Sabbatical leave 14% Alternative leave options (e.g. volunteering) 7% Other (school program, home care leave, etc.) * More than one option could be selected. Technology 115

Technology Attraction & retention Combination of benefits offered to employees* 68 % 64 % 39 % 39 % 25 % Medical and dental benefits Mobile phone Personal laptop Transport allowance Stock options Market observations: Most technology professionals in Singapore prefer a mix of financial and non-financial rewards. Employers in Singapore are starting to improve their attraction and retention strategies for technology professionals as the demand for them continues to grow. This includes providing project completion bonuses and introducing workplace flexibility, among other strategies. Employers are also increasingly seeking to recruit locals and females to their IT teams as they look to add diversity in their organisation. 21 % 11 % 11 % 11 % 7 % 7 % Parking Company car Education loan None Other (accommodation, etc.) Travel pass Working hours Average weekly working hours Less than 37.5 hours 37.5-40 hours 40-45 hours 45-50 hours 50 hours or more 1 % 10 % 64 % 23 % 2 % * More than one option could be selected. Technology 116

Technology Salary Tables FINANCIAL SERVICES DEVELOPMENT, DESIGN & ARCHITECTURE Role Salary SG$ 000 Analyst Programmer 3 to 5 years 50-60 5 to 10 years 65-90 10 to 15 years 90-100 Lead Analyst Programmer 5 to 10 years 90-120 10 to 15 years 120-160 Architect Applications, Solutions, Systems, Data 5 to 10 years 125-135 10 to 15 years 140-180 Enterprise Architect 5 to 10 years 110-150 10 to 15 years 150-180 More than 15 years 180+ Application Development Manager 5 to 10 years 110-130 10 to 15 years 145-165 More than 15 years 170+ TESTING Role Salary SG$ 000 Test Analyst 3 to 5 years 45-55 5 to 10 years 55-65 10 to 15 years 70-85 Team Lead - Testing 5 to 10 years 65-90 10 to 15 years 90-120 More than 15 years 110+ Test Manager 5 to 10 years 90-110 10 to 15 years 120-135 More than 15 years 130+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 117

Technology DATABASE MANAGEMENT Role Salary SG$ 000 Database Administrator 3 to 5 years 50-60 5 to 10 years 60-80 10 to 15 years 80-100 Senior Database Administrator/Data Analyst 5 to 10 years 75-85 10 to 15 years 90-110 More than 15 years 100+ Data Warehousing/Modelling Specialist 3 to 5 years 70-80 5 to 10 years 90-110 10 to 15 years 110-130 Data Architect 5 to 10 years 80-100 10 to 15 years 125-140 More than 15 years 150-200 INFRASTRUCTURE/NETWORK Role Salary SG$ 000 Network Support 1st/2nd Level 3 to 5 years 50-60 5 to 10 years 50-65 Security Analyst/Consultant 3 to 5 years 60-65 5 to 10 years 75-85 10 to 15 years 90-120 More than 15 years 120+ Network Engineer 3 to 5 years 50-60 5 to 10 years 80-90 10 to 15 years 90-120 More than 15 years 120+ Network Architect 5 to 10 years 100-120 10 to 15 years 120-150 More than 15 years 150+ Security Manager 5 to 10 years 90-120 10 to 15 years 125-135 More than 15 years 140+ Infrastructure Manager 5 to 10 years 90-120 10 to 15 years 135-150 More than 15 years 150+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 118

Technology PROJECT & GENERAL MANAGEMENT Role Salary SG$ 000 Project Co-ordinator 3 to 5 years 50-65 5 to 10 years 75-90 10 to 15 years 90-120 More than 15 years 120+ Project Manager 3 to 5 years 75-100 5 to 10 years 100-180 10 to 15 years 160-200 More than 15 years 180+ Project Director 10 to 15 years 180-200 More than 15 years 200-250 Business Analyst 3 to 5 years 65-90 5 to 10 years 90-100 10 to 15 years 100-130 Senior Business Analyst 5 to 10 years 90-110 10 to 15 years 120-160 More than 15 years 150+ IT Manager 5 to 10 years 90-130 10 to 15 years 140-180 More than 15 years 180+ IT Director More than 15 years 220-275 Chief Information Officer More than 15 years 280-400 Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 119

Technology SUPPORT/ADMINISTRATION Role Salary SG$ 000 1st Level Helpdesk Analyst 3 to 5 years 40-50 5 to 10 years 50-60 2nd Level Desktop Support Analyst 3 to 5 years 50-60 5 to 10 years 65-70 10 to 15 years 70-80 3rd Level Support Analyst 5 to 10 years 65-70 10 to 15 years 70-90 More than 15 years 90-100 Unix Administrator 3 to 5 years 60-75 5 to 10 years 75-90 10 to 15 years 90-120 Helpdesk Manager 5 to 10 years 75-90 10 to 15 years 90-120 Service Centre Manager 10 to 15 years 125-160 More than 15 years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 120

Technology COMMERCE DEVELOPMENT, DESIGN & ARCHITECTURE Role Salary SG$ 000 Analyst Programmer 3 to 5 years 40-50 5 to 10 years 55-75 Lead Analyst Programmer 5 to 10 years 70-80 10 to 15 years 80-90 Architect Applications, Solutions, Systems, Data 5 to 10 years 100-110 More than 10 years 110-120 Enterprise Architect 5 to 10 years 100-120 10 to 15 years 120-220 Application Development Manager 5 to 10 years 85-100 10 to 15 years 110-140 TESTING Role Salary SG$ 000 Test Analyst 3 to 5 years 40-50 5 to 10 years 50-90 Team Lead - Testing 5 to 10 years 60-85 10 to 15 years 90-120 More than 15 years 110+ Test Manager 10 to 15 years 110-135 More than 15 years 130+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 121

Technology DATABASE MANAGEMENT Role Salary SG$ 000 Database Administrator 3 to 5 years 45-55 5 to 10 years 55-65 Senior Database Administrator/Data Analyst 5 to 10 years 70-80 10 to 15 years 80-100 Data Warehousing/Modelling Specialist 5 to 10 years 90-110 10 to 15 years 110-130 Data Architect 5 to 10 years 100-120 10 to 15 years 120-140 INFRASTRUCTURE/NETWORK Role Salary SG$ 000 Network Support 1st/2nd Level 3 to 5 years 39-55 5 to 10 years 55-65 Security Analyst/Consultant 3 to 5 years 60-70 5 to 10 years 75-85 10 to 15 years 85-110 Network Engineer 3 to 5 years 50-60 5 to 10 years 80-90 10 to 15 years 90-100 Network Architect 5 to 10 years 100-120 10 to 15 years 120-150 More than 15 years 150+ Security Manager 5 to 10 years 90-120 10 to 15 years 120-140 More than 15 years 140+ Infrastructure Manager 5 to 10 years 90-120 10 to 15 years 120-140 More than 15 years 140+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 122

Technology PROJECT & GENERAL MANAGEMENT Role Salary SG$ 000 Project Co-ordinator 3 to 5 years 50-65 5 to 10 years 70-85 Project Manager 3 to 5 years 70-100 5 to 10 years 100-120 10 to 15 years 120-150 More than 15 years 150+ Project Director 10 to 15 years 150-200 More than 15 years 200-250 Business Analyst 3 to 5 years 70-90 5 to 10 years 80-100 10 to 15 years 100+ Senior Business Analyst 5 to 10 years 90-110 10 to 15 years 110-130 More than 15 years 130+ IT Manager 5 to 10 years 90-130 10 to 15 years 130-150 More than 15 years 150+ IT Director More than 15 years 150-220 Chief Information Officer More than 15 years 220-350 Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 123

Technology SUPPORT/ADMINISTRATION Role Salary SG$ 000 1st Level Helpdesk Analyst 3 to 5 years 40-50 5 to 10 years 50-60 2nd Level Desktop Support Analyst 3 to 5 years 50-60 5 to 10 years 65-70 3rd Level Support Analyst 5 to 10 years 70-80 10 to 15 years 80-90 Unix Administrator 3 to 5 years 52-65 5 to 10 years 75-90 Helpdesk Manager 5 to 10 years 70-85 10 to 15 years 90-120 Service Centre Manager 10 to 15 years 130-160 More than 15 years 160+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 124

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